Easily check for unclaimed Liberty benefits via the Standard Bank app

Imagine finding out that there is money due to you that you did not know about. That’s the reality for millions of South Africans who have unclaimed benefits from their retirement funds. The retirement fund industry holds more than R47bn in retirement benefits due to be claimed by members or their beneficiaries. 

Unclaimed benefits arise when people retire or change employers without transferring or claiming the retirement fund that they had with their previous employer. Sometimes a member of a retirement fund passes on, and their beneficiaries cannot be found due to incorrect contact details and lack of documentation.

Even for the members and beneficiaries who do claim, the claim process can be difficult. It involves finding old paperwork, completing long forms, and waiting for a response.

Liberty has found an innovative way to reunite people with their unclaimed benefits, through a partnership with fintech provider Robin Hood and Standard Bank, and making use of the bank’s app.

In 2023, Robin Hood launched a new digital tool to facilitate claiming. Liberty was one of the first companies to adopt this technology for its clients. Since then, Liberty has matched over R100m that is due to members and beneficiaries of its unclaimed benefit fund. 

Through this partnership, Liberty has taken the lead in solving one of SA’s long-standing financial challenges of unclaimed retirement benefits.

This digitised solution significantly reduces claims turnaround times from 30 days to just seven working days, showing how technology can unlock value for millions of people.

The partnership has demonstrated what is possible when legacy problems meet modern innovation. It’s not just about improving efficiency but also restoring trust in the system and delivering value to beneficiaries.

The result is a process that works faster, smarter, and is intuitive for any app user, which makes claiming easy.

Liberty is pleased to have pioneered a solution that not only expedites paying out its own unclaimed benefits but also addresses an industry legacy problem. 

The process to claim your unclaimed Liberty retirement benefit via the Standard Bank app is quick and secure:

1. Log into your Standard Bank banking app.
2. Search “Unclaimed Benefits” add-on.
3. Follow the prompts and view your claim.
4. Choose “Claim now” to have your benefit paid into your Standard Bank account to complete the process.

Alternatively, you can find out if you’re owed unpaid dividends via the Liberty website or the Financial Sector Conduct Authority website.

This article was sponsored by Liberty.

^{Liberty is a subsidiary of the Standard Bank Group.}